US, Iran Threaten More Energy Strikes as Gas Prices Surge. What to Know

President Donald Trump threatened to destroy Iranian power plants if the pivotal Strait of Hormuz isn’t opened, prompting Iran to respond with their own threats of retaliation as the war’s energy crisis escalates.

The president took to social media to pressure the Middle Eastern nation over the global shipping route, which Iran has effectively closed since the U.S.-Israeli strikes on Feb. 28. It’s one of the world’s most important oil chokepoints and ferries roughly 20% of the world’s oil products annually.

“If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!” Trump wrote on Truth Social shortly before 8 p.m. on Saturday, March 21.

In response, Mohammad Baqer Qalibaf, speaker of Iran’s parliament, said if the United States does strike Iran’s power plants, Iran will destroy critical infrastructure and oil facilities in the region in an “irreversible manner.” In his March 22 post on X, Qalibaf also threatened that oil costs will “remain high for a long time.”

Iran Threatens Tit-for-Tat Strikes Amid Energy Crisis

As the U.S.-Israeli war with Iran enters its fourth week, the economic and oil-related repercussions continue to rattle global and domestic markets. The average U.S. gas price on Sunday, March 22 hit $3.94 per gallon, compared to $2.98 a gallon two days before the war began.

While consumers wrestle with a nearly dollar-high jump over the last three weeks, the United States, Israel and Iran entered a new phase in the ongoing war, in which oil and gas have become key targets for both sides.

Israel’s March 19 attack on Iran’s largest gas field, South Pars, led to retaliatory strikes by Iran on U.S.-allied Gulf nations. Hours after the South Pars attack, Iran struck oil refineries in Kuwait and damaged Qatar’s massive liquefied natural gas production site, Ras Laffan.

More Than 2,000 Killed in Ongoing War

While the warring nations lob threats over new rounds of energy and oil targets, Lebanon continues to suffer the second-highest death toll from the war, after Iran. In all, more than 2,000 people across multiple countries have died in the conflict.

Thirteen U.S. service members have been killed, and the Pentagon said last week the number of American troops injured in the Iran war has climbed to 200.

Israel’s strikes on Lebanon have killed more than 1,000 people, including nearly 120 children, 80 women and 40 medical personnel, according to Lebanon’s health ministry. The United Nations reported on March 21 that 2,584 people have been injured in Lebanon since March 2, when Iran-linked militant group Hezbollah launched strikes on Israel in response to the killing of Iran’s Supreme Leader Ayatollah Ali Khamenei.

In Iran, casualty numbers vary.

The U.S.-based rights group HRANA said on March 21 that 3,230 people have been killed, including 1,406 civilians, and at least 210 children.

Reuters reported the latest figures from Iranian state media put the toll at 1,270 people, while Iran’s ambassador to the UN said on March 6 that at least 1,332 people had been killed since the war began.

Elsewhere in the region, Reuters reported authorities have confirmed 60 people were killed in Iraq, 15 civilians and two soldiers were killed in Israel, 8 people are dead in United Arab Emirates and 6 in Kuwait. Two have been killed in Saudi Arabia, Oman and Bahrain, Reuters reported, and four people have been killed in Syria.

Democrats Hammer Administration Over Costs

Treasury Secretary Scott Bessent said on NBC News’ “Meet the Press” on March 22 that the United States has “plenty of money to fund this war,” as Congress braces for an expected $200 billion request from the Pentagon.

Bessent called the ask “supplemental” and ruled out pushing for any tax increases to fund the war. When asked about whether it’s coming to an end soon, Bessent answered by telling host Kristen Welker that “sometimes you have to escalate to deescalate.”

Sen. Chris Murphy responded to Bessent’s comments on the same program, suggesting Democrats may attempt to use the Pentagon’s expected request for billions more in war funding to pressure the administration to end the conflict.

“We need to end this war,” Murphy said. “The only way you’re going to get prices down here in the United States, the only way you’re going to bring peace to the region, is by ending this war.”

The funding ask faces stiff opposition in Congress, with Democrats and some Republicans questioning the need after large defense appropriations last year. Many Democrats have also expressed strong opposition to the joint U.S.-Israeli war since it began, throwing more hurdles in the path of the Pentagon’s request.

Contributing: Reuters.

Kathryn Palmer is a politics reporter for USA TODAY. You can reach her at [email protected] and on X @KathrynPlmr. Sign up for her daily politics newsletter here.

This article originally appeared on USA TODAY: US, Iran threaten more energy strikes as gas prices surge. What to know

Reporting by Kathryn Palmer, USA TODAY / USA TODAY

USA TODAY Network via Reuters Connect